I was cruising the personal finance news this morning and came across a great story on Tim and Edra Blixseth. The story with Tim and Edra is that they have a LOT of money, but decided to divorce without getting the courts involved.

According to the story, they sat down one afternoon in a hotel room and divided up their property. Tim kept the real estate business, Edra got the 420 acre estate and the dogs. The interesting thing about this is that they managed to split up without acrimony. Its especially remarkable in light of the fact that they have a LOT to fight over.

Given that my wife and I had a couple of very tense moments in drawing up our prenuptial agreement, I give Tim and Edra a lot of credit for splitting up without a court battle.

Best,

James

MANAGE YOUR MONEY TOGETHER

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1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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